The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the
Board of Novell, Inc.
Levi & Korsinsky is investigating the Board of Directors of Novell, Inc.
for possible breaches of fiduciary duty and other violations of state law
in connection with their attempt to sell the Company to Attachmate
New York, NY, November 23, 2010 -- Levi & Korsinsky is investigating the
Board of Directors of Novell, Inc. (“Novell” or the “Company”) (NasdaqGS:
NOVL) for possible breaches of fiduciary duty and other violations of
state law in connection with their attempt to sell the Company to
Attachmate Corporation (“Attachmate”). Under the terms of the
transaction, Novell shareholders will receive $6.10 in for each share
they own for a total transaction value of approximately $2.2 billion.
Attachmate is owned by an investment group led by Francisco Partners,
Golden Gate Capital and Thoma Bravo. The hedge fund Elliott Associates
LP, one of Novell's largest shareholders, will become an equity
shareholder in Attachment.
Click here to learn how to join the action: http://www.zlk.com/novell-
novl.html, or call: 877-363-5972.
The investigation concerns whether the Novell Board of Directors breached
their fiduciary duties to Novell stockholders by failing to adequately
shop the Company before entering into this transaction and whether
Attachmate is underpaying for Novell shares, thus unlawfully harming
Novell stockholders. In particular, Novell stock has traded as high as
$6.53 on September 22, 2010 and at least one analyst has set a price
target for Novell stock at $7.50 per share.
If you own common stock in Novell and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-
5972, or visit http://www.zlk.com/novell-novl.html.
Levi & Korsinsky has expertise in prosecuting investor securities
litigation and extensive experience in actions involving financial fraud
and represents investors throughout the nation, concentrating its
practice in securities and shareholder litigation. The attorneys at Levi
& Korsinsky have been appointed by numerous courts throughout the country
to serve as lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please feel
free to contact any of the attorneys listed below.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky,
Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-
7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Levi & Korsinsky, LLP
New York, NY